Trinity Exploration & Production output rises 4% in second quarter
Source - SMW
Trinidad and Tobago-focused Trinity Exploration & Production said it boosted oil and gas production by 4% in the second quarter, compared to the first.
Average production volumes for the three months through June were 2,821 barrels of oil per day.
For the entire first half, the company achieved a 16% increase in on-year production to 2,771 bopd.
'The completion of the $20.0m fundraising has ensured that the company is now well positioned to take full advantage of the near, medium and long-term opportunities that are available to grow and develop its onshore and offshore activities,' the company said.
'The near-term growth will be underpinned by the accelerated drilling programme onshore while the company works towards a further material step-change in production in the medium-term with the resumption of East Coast drilling.'
At 9:41am: (LON:TRIN) Trinity Exploration Production share price was -0.55p at 16.95p